Failure Narrows Odds On Targacept Depression Drug; Hope Rests In Remaining Three Trials

Nicotinic receptor company Targacept and TC-5214 partner AstraZeneca remain committed to a 2H 2012 filing of the drug as adjunct therapy for major depressive disorder.

Targacept Inc. is counting on the success of only two of the four trials in the Phase III program for its novel depression drug TC-5214 to support regulatory filings, so while disappointing, one failure is not discouraging, said CEO Donald deBethizy.

“We expect that a positive outcome in two of the RENAISSANCE efficacy studies will be sufficient to support regulatory approval in the U.S. and continue with AstraZeneca to plan for...

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